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  1. Stackups
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  5. Razorpay vs TransferWise

Razorpay vs TransferWise

OverviewComparisonAlternatives

Overview

Razorpay
Razorpay
Stacks67
Followers106
Votes3
TransferWise
TransferWise
Stacks20
Followers40
Votes9

Razorpay vs TransferWise: What are the differences?

Introduction

Razorpay and TransferWise are two popular financial service platforms that offer different services and cater to different needs. While Razorpay focuses on providing easy payment solutions for businesses in India, TransferWise specializes in international money transfer services for individuals and businesses around the world.

  1. Geographical Focus: Razorpay primarily operates in India, offering payment solutions specifically designed for Indian businesses. On the other hand, TransferWise operates globally and enables individuals and businesses to send and receive money across different countries with competitive exchange rates.

  2. Services Provided: Razorpay primarily focuses on payment gateway services, allowing businesses to accept online payments via various modes such as credit/debit cards, net banking, UPI, and wallets. TransferWise, on the other hand, provides international money transfer services, enabling users to send money abroad with lower fees and transparent exchange rates.

  3. User Base: Razorpay primarily targets businesses in India and has a significant user base in the domestic market. TransferWise, being a global service, attracts a diverse user base of individuals and businesses from various countries seeking cross-border money transfer solutions.

  4. Integration: Razorpay provides easy integration options for businesses to integrate their payment gateway with their websites or applications, allowing a seamless payment experience for their customers. TransferWise, on the other hand, offers APIs for businesses to integrate their services into their platforms, enabling streamlined international money transfers.

  5. Pricing Structure: Razorpay adopts a transaction-based pricing model, charging a percentage of the transaction value as fees for its payment gateway services. TransferWise follows a transparent fee structure based on the transfer amount, charging a small percentage of the amount being transferred along with a fixed fee.

  6. Target Audience: Razorpay primarily targets businesses of all sizes in India, aiming to provide them with efficient payment solutions. TransferWise caters to individual customers as well as businesses looking for cost-effective international money transfer options, regardless of their size or location.

In summary, Razorpay focuses on providing payment gateway solutions specifically for businesses in India, while TransferWise specializes in international money transfer services with transparent fees and competitive exchange rates for individuals and businesses worldwide.

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Detailed Comparison

Razorpay
Razorpay
TransferWise
TransferWise

Razorpay is the only payments solution in India that allows businesses to accept, process and disburse payments with its product suite. It gives you access to all payment modes including credit card, debit card, netbanking, UPI and more.

It bypasses pricey international payments entirely by using two local transfers instead of one international transaction. If you want to convert your pounds to euros, you send the money in pounds to its UK-based account.

Accept Digital Payments; Instant Activation; Easy Integration; Dashboard Reporting; Manage your marketplace; automate bank transfers; collect recurring payments; share invoices with customers; avail working capital loans
Invite friends to TransferWise; Send us verification documents; Set up Amount Lock transfers on available currency routes; Set up new transfers with previously used details and recipients; Pay via Apple Pay (iOS) and Google Pay (Android); Set up app-based 2-step login.
Statistics
Stacks
67
Stacks
20
Followers
106
Followers
40
Votes
3
Votes
9
Pros & Cons
Pros
  • 3
    Upi payments support
Pros
  • 4
    Best exchange rates
  • 3
    Fast
  • 2
    API Support
Integrations
Apache Cordova
Apache Cordova
PhoneGap
PhoneGap
Android SDK
Android SDK
iOS
iOS
Easy Digital Downloads
Easy Digital Downloads
Capacitor
Capacitor
WooCommerce
WooCommerce
Magento
Magento
Wix
Wix
Golang
Golang
Zapier
Zapier
Talkable
Talkable
Solidus
Solidus
Shopify
Shopify
Chargebee
Chargebee
Elevio
Elevio
Pendo
Pendo

What are some alternatives to Razorpay, TransferWise?

Stripe

Stripe

Stripe makes it easy for developers to accept credit cards on the web.

PayPal

PayPal

PayPal is an online payments and money transfer service that allows you to send money via email, phone, text message or Skype. They offer products to both individuals and businesses alike, including online vendors, auction sites and corporate users. PayPal connects effortlessly to bank accounts and credit cards. PayPal Mobile is one of PayPal’s newest products. It allows you to send payments by text message or by using PayPal’s mobile browser.

Braintree

Braintree

Braintree replaces traditional payment gateways and merchant accounts. From one touch payments, to mobile SDKs and international sales, we provide everything you need to start accepting payments today.

Recurly

Recurly

Recurly is the leading pay-as-you-go recurring billing service because setup is easy, integrations are quick, and our service grows with the needs of your business.

Adyen

Adyen

A payments technology company that provides a single global platform to accept payments anywhere in the world. Businesses can process payments across online, mobile and in-store (POS) with over 250 payment methods and 187 currencies.

Payoneer

Payoneer

It is a financial services company that provides online money transfer and digital payment services and working capital solutions

Amazon FPS

Amazon FPS

With Amazon Flexible Payments Service developers can accept payments on their website for selling goods or services, raise donations, execute recurring payments, and send payments. Amazon customers can pay using the same login credentials, shipping address and payment information they already have on file with Amazon. Amazon FPS supports the processing of payments using credit cards, bank accounts and Amazon Payments account balances to send or receive money.

Zuora

Zuora

Zuora gives you the enterprise-class, cloud-based tools you need to launch and scale any subscription service, quickly and affordably. Design your pricing and packaging, start taking quotes and placing orders, automate your billing and payments, and keep tabs on your financials.

WePay

WePay

WePay helps people sell tickets to events, send invoices, sell items online, and accept donations online. WePay also provides an API that allows developers to access its payments platform.

2checkout

2checkout

Accept payments online, anytime, anywhere. 2Checkout.com is an online payment processing service that helps you accept credit cards, PayPal, and debit cards.

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